PTI - Patni Computer Systems Limited
Patni Computer Systems Limited (Patni) is primarily engaged in the business of information technology consulting and software development. Most of the business of Patni is subcontracted from its subsidiary companies in the United States, United Kingdom and Germany. The Company provides multiple service offerings to its clients across various industries comprising financial services, manufacturing companies communication, media and entertainment, product engineering services, and others. The various service offerings comprise application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, quality assurance services, and business process outsourcing services. As of December 31, 2008, the Company operated in business units, such as financial services, insurance services, manufacturing, communication, media and entertainment, product engineering and others.
The Aroon technical indicator is quite new and was developed by Tushar Chande in 1995. Similar to the MACD, it is used for identifying trends in an underlying security and tries to determine what the chances are that the trends will reverse. The indicator is made up of two lines: The first line is called the Aroon Up, which measures the strength of the uptrend. The second line is called the Aroon Down, and it conversely measures the strength of a downtrend. The Aroon indicator reports the time it is taking for the price to reach the highest or lowest points over a given period of time, each reported as a percentage of total time. The Aroon up as well as the Aroon Down fluctuate between zero and 100, and values close to 100 indicate a very strong trend, while zero indicates a weak trend. The main assumption underlying this indicator is that a stock's price will close at record highs in an uptrend, and record lows in a downtrend.
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